MCQOPTIONS
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MCQOPTIONS
This section includes 2081 Mcqs, each offering curated multiple-choice questions to sharpen your Finance & Accounting knowledge and support exam preparation. Choose a topic below to get started.
| 1501. |
The recognition of the close link between an organisation's decisions andactivities and its impact on the natural environment is called __________. |
| A. | Global Environment |
| B. | Greening of management |
| C. | Social actions |
| D. | None of the above |
| Answer» C. Social actions | |
| 1502. |
________________accounting is the process by which companies andorganizations record the financial impact of agreements to rent or finance the rights to use specific assets. |
| A. | Corporate |
| B. | Responsibility |
| C. | Green |
| D. | Lease |
| Answer» E. | |
| 1503. |
A branch of accounting which decodes the human nature to hide failures,conceal problems, defend wrong decisions, and cover up mistakes is known as___________________. |
| A. | Inflation Accounting |
| B. | Human Resource Accounting |
| C. | Environment Accounting |
| D. | Forensic Accounting |
| Answer» E. | |
| 1504. |
______________ is a term used in the field of accounting which measuresthe environmental and natural resources accounting, which tends to incorporate the natural and environmental assets of the firm and it’s resources. |
| A. | Social Accounting |
| B. | Green Accounting |
| C. | Inflation Accounting |
| D. | None of the above |
| Answer» C. Inflation Accounting | |
| 1505. |
In external reconstruction, the liquidated company is called______________________. |
| A. | Purchasing Company |
| B. | Vendor Company |
| C. | Holding Company |
| D. | Group Company |
| Answer» C. Holding Company | |
| 1506. |
_____________ is the process of significantly changing a company'sbusiness model, management team or financial structure to address challenges and increase shareholder value. |
| A. | Corporate restructuring |
| B. | Corporate reporting |
| C. | Amalgamation |
| D. | Reconstruction |
| Answer» B. Corporate reporting | |
| 1507. |
The stakeholder view of social responsibility states that organisations mustrespond to the needs of |
| A. | employees and customers |
| B. | shareholders and owners |
| C. | all interested parties |
| D. | all those who might sue the organisation |
| Answer» D. all those who might sue the organisation | |
| 1508. |
________________ also called green accounting. |
| A. | Corporate Social Responsibility |
| B. | Corporate Accounting |
| C. | Environmental accounting |
| D. | Forensic Accounting |
| Answer» D. Forensic Accounting | |
| 1509. |
__________ is when a firm engages in social actions because of its obligation to meet certain economic and legal responsibilities |
| A. | SocialObligation |
| B. | Social Responsibility |
| C. | Social Responsiveness |
| D. | None of the above |
| Answer» B. Social Responsibility | |
| 1510. |
___________ acts as an evidence of social commitment. |
| A. | Social Accounting |
| B. | Environmental Accounting |
| C. | Inflation Accounting |
| D. | None of the above |
| Answer» B. Environmental Accounting | |
| 1511. |
______________manages business finances effectively, make the rightdecisions and maximize your profits. |
| A. | Corporate Accounting |
| B. | Inflation Accounting |
| C. | Environmental Accounting |
| D. | Proactive Accounting |
| Answer» E. | |
| 1512. |
______________ is an asset representing the future economic benefitsarising from other assets acquired in a business combination that are not individually identified and separately recognized. |
| A. | Goodwill |
| B. | Capital Reserve |
| C. | Plant and Machinery |
| D. | Drawings |
| Answer» B. Capital Reserve | |
| 1513. |
_____________ refers to the process of adjusting the financial statements ofa company to show the real financial position of the company during the inflationary period. |
| A. | Corporate Accounting |
| B. | Inflation Accounting |
| C. | Environmental Accounting |
| D. | Proactive Accounting |
| Answer» C. Environmental Accounting | |
| 1514. |
A ______________Accounting signifies the activities related to theconservation of Environment. |
| A. | Inflation |
| B. | Human Resource |
| C. | Environment |
| D. | Forensic |
| Answer» D. Forensic | |
| 1515. |
__________ is the method were all assets and liabilities are recorded on abalance sheet according to the cost of replacing them rather than their historical costs. |
| A. | Replacement Cost Accounting |
| B. | Current Value |
| C. | Current Cost Accounting |
| D. | None of the above |
| Answer» B. Current Value | |
| 1516. |
What is the classical view of management's social responsibility? |
| A. | To create specific environment in work place |
| B. | To maximize profit |
| C. | To protect and improve society’s welfare |
| D. | All of the above |
| Answer» C. To protect and improve society’s welfare | |
| 1517. |
____________ is the estimated remaining period, from the commencement ofthe lease term, without limitation by the lease term, over which the economic benefits embodied in the asset are expected to be consumed by the entity. |
| A. | Economic Life |
| B. | Useful Life |
| C. | Fair value |
| D. | None of the above |
| Answer» C. Fair value | |
| 1518. |
_________is about the measurement of the items in the consolidatedfinancial statements, such as goodwill, non-controlling interest, etc. |
| A. | IFRS 4 |
| B. | IFRS 10 |
| C. | IFRS 9 |
| D. | IFRS 3 |
| Answer» E. | |
| 1519. |
_______________ is concerned with the development of measurementsystem to monitor social performance. |
| A. | Social Accounting |
| B. | Environmental Accounting |
| C. | Inflation Accounting |
| D. | None of the above |
| Answer» B. Environmental Accounting | |
| 1520. |
The objective of ________________is to prescribe, for lessees and lessors,the appropriate accounting policies and disclosures to apply in relation to finance and operating leases. |
| A. | IAS 11 |
| B. | IAS 17 |
| C. | IAS 7 |
| D. | IAS 19 |
| Answer» C. IAS 7 | |
| 1521. |
Banks are to recognize their income on cash basis in respect of income on performing assets. |
| A. | true |
| B. | false |
| C. | may be true |
| D. | may be false |
| Answer» C. may be true | |
| 1522. |
A memorandum trading account is to be prepared to ascertained the value ofstock on the date of fire. |
| A. | true |
| B. | false |
| C. | may be true |
| D. | may be false |
| Answer» B. false | |
| 1523. |
Return on properties funds is also known as. |
| A. | Return on net worth |
| B. | Return on shareholders fun |
| C. | Return on the shareholders investment |
| D. | All the above |
| Answer» E. | |
| 1524. |
IF Gross profit rate is 20% and Short Sales is Rs. 400000, then Loss of Profit onSales will be ……….. |
| A. | Rs. 80000 |
| B. | Rs. 50000 |
| C. | Rs. 85000 |
| D. | None of the above |
| Answer» B. Rs. 50000 | |
| 1525. |
The ratio shows the preference dividend as a proportion of profit available forshareholders is |
| A. | interest cover ratio. |
| B. | fixed dividend cover ratio. |
| C. | debt service coverage ratio. |
| D. | dividend yield ratio. |
| Answer» C. debt service coverage ratio. | |
| 1526. |
Every banking company incorporated in India must transfer to the Reserve fund a sum equivalent to not less than 25% of profit of each year before declaration of dividend. |
| A. | true |
| B. | false |
| C. | only a |
| D. | a or b |
| Answer» B. false | |
| 1527. |
Liquidity ratios are expressed in |
| A. | Pure ratio form |
| B. | Percentage |
| C. | Rate or time |
| D. | None of the above |
| Answer» B. Percentage | |
| 1528. |
Net profit ratio is a . |
| A. | turnover ratio. |
| B. | long term solvency ratio. |
| C. | short term solvency ratio |
| D. | profitability ratio. |
| Answer» E. | |
| 1529. |
If stock is for 110----------------- 44000 100-------------------? |
| A. | . 40000 |
| B. | 50000 |
| C. | 55000 |
| D. | 45000 |
| Answer» B. 50000 | |
| 1530. |
The ratio which is calculated to measure the productivity of total assets is |
| A. | return on equity. |
| B. | return on share holders funds. |
| C. | return on total assets. |
| D. | return on equity share holders’ funds. |
| Answer» D. return on equity share holders’ funds. | |
| 1531. |
The online version of collecting tax was introduced in the year………… |
| A. | 2004 |
| B. | 2006 |
| C. | 2005 |
| D. | 2015 |
| E. | 8th July 2019 |
| Answer» B. 2006 | |
| 1532. |
The amount paid by insured to insurer as a consideration is known aspremium. |
| A. | true |
| B. | false |
| C. | may be true |
| D. | may be false |
| Answer» B. false | |
| 1533. |
Right issue generally made at a price lower that…………….value of shares. |
| A. | Fair |
| B. | fixed |
| C. | computing |
| D. | fluctuating |
| Answer» B. fixed | |
| 1534. |
Impairment assets is nothing but………………….in the value of assets |
| A. | decrease |
| B. | increase |
| C. | fixed |
| D. | none of these |
| Answer» B. increase | |
| 1535. |
The ratio which indicates earnings per share reflected by the market price is . |
| A. | retained earnings ratio. |
| B. | pay out ratio. |
| C. | earnings per share. |
| D. | price earnings ratio. |
| Answer» E. | |
| 1536. |
Sales – Gross Profit = . |
| A. | net profit. |
| B. | administrative expenses. |
| C. | cost of production. |
| D. | cost of goods sold. |
| Answer» E. | |
| 1537. |
Foreign Branch almost invariably trade independently and records theirtransaction in |
| A. | cost price |
| B. | Market value |
| C. | Foreign currency |
| D. | invoice price |
| Answer» D. invoice price | |
| 1538. |
Loading on surplus in stock is………….to Branch Adjustment Account. |
| A. | debit. |
| B. | credit. |
| C. | liability. |
| D. | treading |
| Answer» C. liability. | |
| 1539. |
They record a few translation completely just like the double entry system but a majority of the transactions are recorded only partially is known as incomplete records. |
| A. | true |
| B. | false |
| C. | both a and b |
| D. | none of the above |
| Answer» B. false | |
| 1540. |
Which ratio measures the number of times the receivables are rotated in ayear in terms of sales? |
| A. | stock turnover ratio. |
| B. | debtors turnover ratio. |
| C. | creditors velocity ratio. |
| D. | working capital turnover ratio. |
| Answer» C. creditors velocity ratio. | |
| 1541. |
…………….fund is for the purpose of construction of building for the business ofthe Society. |
| A. | building fund |
| B. | Reserve fund |
| C. | Education Fund |
| D. | Loans and advances |
| Answer» B. Reserve fund | |
| 1542. |
If Net Profit is Rs. 400000 Insured Standing Charges is Rs. 320000 Sales of The Previous year is Rs. 3600000 Then Gross Profit Rate will be………… |
| A. | . 20% |
| B. | 30% |
| C. | 50% |
| D. | 65% |
| Answer» B. 30% | |
| 1543. |
Under…………… entry system, Personal Accounts and Cash Book are kept separately. |
| A. | Simple single |
| B. | Pure s ingle. |
| C. | Quasi single. |
| D. | Double entry |
| Answer» D. Double entry | |
| 1544. |
If Sales of last year is Rs. 600000 and sales of corresponding current year isRs.200000 then Short sales will be …………… |
| A. | 400000 |
| B. | 500000 |
| C. | 250000 |
| D. | 256000 |
| Answer» B. 500000 | |
| 1545. |
Fixed assets ratio is a |
| A. | short-term solvency ratio. |
| B. | long-term solvency ratio. |
| C. | profitability ratio. |
| D. | turnover ratio. |
| Answer» C. profitability ratio. | |
| 1546. |
AS – 7 deals with accounting for Government grants. |
| A. | false |
| B. | true |
| C. | may be true |
| D. | neither true nor false |
| Answer» B. true | |
| 1547. |
Transfer of money from one place to another i.e. mail transfer is an item to be excluded from bills payable. |
| A. | True |
| B. | False |
| C. | May be false |
| D. | May be true |
| Answer» C. May be false | |
| 1548. |
Inventory or stock turnover ratio is also called . |
| A. | stock velocity ratio. |
| B. | debtors velocity ratio. |
| C. | creditors velocity ratio. |
| D. | working capital turnover ratio. |
| Answer» B. debtors velocity ratio. | |
| 1549. |
Profit for the objective of calculating a ratio may be taken as |
| A. | Profit before tax but after interest |
| B. | Profit before interest &tax |
| C. | Profit after interest & tax |
| D. | All the above |
| Answer» E. | |
| 1550. |
……………system of book keeping is the only scientific method to record farmingtransaction. |
| A. | Single entry |
| B. | Double entry |
| C. | Balance sheet |
| D. | Adjustment A/c |
| Answer» C. Balance sheet | |